NBAD wins Best Mobile Payment & Pre-Paid Card Awards

The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, won the Best Pre-Paid Card and the Best Mobile payment Application categories from Smart Card Awards Middle East. 

The Smart Card Awards, announced at Cards Middle East conference held May 17 and 18, 2011 in Abu Dhabi, named NBAD’s Ratibi Card the Best pre-paid Card; and NBAD’s Arrow Service the Best Mobile Payment Application. 

“Winning awards for our Ratibi card and Arrow Service confirms that NBAD is the leader in innovation and introducing products that impact the wider market,” said Suvo Sarkar, the General Manager of Consumer & Elite Banking at NBAD. “NBAD was the first bank to introduce a mobile payment application like Arrow, and the Ratibi salary card has helped with the Government’s objectives to monitor and regulate workers’ rights as well as help bring into the banking sector a large segment of the population.”

Smart Card Awards Middle East recongnises organisations that have made outstanding achievements and contributed to the development of the smart card industry in the Middle East 

NBAD has been at the forefront of developing mobile phone banking services in the UAE. After launching the UAE’s first mobile phone banking in 2008 in partnership with Luup, NBAD has expanded the capabilities of Arrow Service. Today, NBAD and non-NBAD account holders can use Arrow Services to transfer funds person-to-person and to self, pay utilities, donate to select charities and remit money to nearly 190 countries. 

“NBAD’s Arrow mobile phone service has been a great and welcome tool in the market. Arrow has provided a quick and convenient banking tool and it has also expanded banking services to the unbanked population of the UAE,” said Ahmed Al Naqbi, the Head of Direct Banking & E Development at NBAD. “NBAD will continue to expand on the growing and important smart phone services and we are determined to be at the forefront of mobile phone banking in the Arab world.” 

NBAD, the largest Visa prepaid card issuer in UAE, with a market share of 78%, issues several different prepaid products on both MasterCard and Visa network, including general purpose cards. 

“Demand for prepaid cards grows and NBAD continues to tailor various and unique products that meet different market demands such as Ratibi Payroll cards; e-Dirham card with the Ministry of Finance; and MyCard Co-branded RATIBI MasterCard in partnership with Lulu International Exchange,” said Navneet Dave, the Head of Cards at NBAD.

“We also offer other general purpose cards that can be used globally.”